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Published on 18/07/2019 10:16:56 AM | Source: Choice Broking Pvt Ltd

EURINR pair has closed with a gain of 0.07% in the last trading day - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

* On the daily chart, USDINR has gained with 0.14% in last trading session.

* Moreover, price has pulled back from lower Bollinger band given a positive breakout from upper Bollinger band.

* Moreover, pair has shifted above supportive trendline at 68.5, which adds more strength for bullish trend in upcoming session.

* In addition, momentum indicator RSI(14) has sustained near 45.5 and another indicator Commodity Channel Index is at positive zone, which further witnessed bullish move in the price.

* So based on the above structure, we expect up side move towards 69.10 in USDINR for the day.

 

JPYINR

Technical View:

* JPYINR has declined by 0.20% in the previous trading session after gaining support from 200 days EMA’s since couple of previous days.

* On an hourly timeframe, pair has traded below the range of 36 days high and low line EMA’s. Moreover, price has closed below 50 days EMA’s, which is a another signal for bearish market.

* In additions, a momentum indicator RSI (14) has shifted below 50 and another indicator MACD has also shifted below the zero line in negative zone.

* So based on the above analysis, we expect bearish move in JPYINR towards 63.30 level.

 

GBPINR

Technical View:

* GBPINR has been declined by 0.01% in the previous trading session .

* On the daily chart, pair has continued bearish trend as per previous session and it has given a negative breakdown from lower Bollinger band, which adds more strength for bearish movement in near term.

* Moreover, pair has given a breakdown to falling trendline , which adds further pressure to move the price in negative side. Furthermore, a momentum indicator RSI(14) has entered under oversold zone with negative crossover.

* Hence, Based on above technical structure we expect bearish movement towards 85.30 level in GBPINR future.

 

EURINR

Technical View:

* On the daily timeframe, EURINR pair has closed with a gain of 0.07% in the last trading day.

* Moreover, pair has sustained near a support line, which gives a consolidation to the price.

* Furthermore, price is getting pressure from upper side, which support the bearish trend of the pair for near term.

* On the other hand, a momentum indicator RSI(14) has closed below a range of 50 and another indicator CCI(14) is moving at negative zone, which witnessed downtrend in the pairs.

* On the basis of above structure, we expect further negative move from some peaks in Pair towards 77.20 level.

 

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